Adamera Minerals Closes Financing
July 02 2013 - 4:21PM
Access Wire
Vancouver, BC, July 2,
2013 - Adamera Minerals
Corp. (TSX V:ADZ) announces that
it has completed the non-brokered private placement announced on
June 11, 2013. The Company has issued 4,754,667 units at $0.06 per
unit for total gross proceeds of $285,280. Each unit consists of one common share and one share purchase
warrant. Each such common share purchase warrant is exercisable
into one common share for a period of four years from closing at a
price of $0.10 cents per share until June 28, 2017, however if the
closing price for the Company's shares are $0.20 or greater for a
period of 10 consecutive trading days, the warrant holders will
have 30 days to exercise their warrants; otherwise the warrants
will expire on the 31st day. The
Company paid a finder's fee of 20,000 common shares in connection
with the financing.
About Adamera
Adamera's strategy in Washington State
is to cost effectively discover high-grade gold mineralization
within historic mining districts near established infrastructure.
Specifically, the company is targeting areas near the Kinross
Kettle River Mill. The Kinross mill is reported to be operating at
half capacity with ore shipped 70 kilometres from the 1.3 million
ounce Buckhorn mine. The Buckhorn mine has only 3-4 years mine life
remaining. Average grade of the Buckhorn mine is 11.3 g/t gold and
production costs are reported to be between $400 and $500 per
ounce. Adamera is determined to discover a high grade gold deposit
within shipping distance to the Kinross Mill.
On
behalf of the Board of Directors,
Janice Davies
Corporate Secretary
For additional information please
contact:
Heather Kays
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
Email: info@Adamera.com
Website:
www.Adamera.com
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or
accuracy of this release. Statements in this press release, other
than purely historical information, including statements relating
to the Company's future plans and objectives or expected results,
may include forward-looking statements. Forward-looking statements
are based on numerous assumptions and are subject to all of the
risks and uncertainties inherent in resource exploration and
development.
As a result, actual results may vary materially from those
described in the forward-looking statements.
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